(TheNewswire)
January 12, 2022 - TheNewswire - Vancouver, Canada - Teuton Resources Corp. (“Teuton” or “the Company”) (TSXV:TUO) (OTC:TEUTF) (Frankfurt:TFE) has received from its joint venture partner, Tudor Gold Corp., the final drill results from the 30,108 meter, 2021 resource expansion and definition drilling program on the Goldstorm Deposit and Calm Before the Storm Zone (CBS), as well as surface sampling results from the Eureka Zone, at its flagship property, Treaty Creek (the “Project”), located within the Golden Triangle of Northwest British Columbia.
Included in this press release are the results of three diamond drill holes that were completed at the Goldstorm Deposit along sections 113+00 NE and 118+00 NE, 500 metres apart, as well as the third exploration diamond drill hole at the recently discovered Calm Before the Storm Zone. Results of a continuous surface channel sample line completed at the Eureka Zone are also included.
The Copper Belle-Goldstorm Deposit (CB-GS) is situated only five kilometers northeast and on trend from Seabridge Gold’s KSM deposits, which comprise one of the largest undeveloped gold and copper projects in the world. The CB-GS Deposit currently hosts a 1*NI 43-101 compliant Measured and Indicated Mineral Resource of 19.4 million ounces of AuEq grading 0.74 g/t AuEq and an Inferred Resource of 7.9 million ounces of AuEq grading 0.79 g/t AuEq (see Teuton Resources press release dated March 9, 2021).
Drilling and Surface Sampling Highlights include:
GOLDSTORM
GS-21-125 intercepted the DS5 domain, which averaged 0.82 g/t AuEq over 258.0 m, including 1.91 g/t AuEq over 85.4 m. The hole ended in gold-copper mineralization as unstable ground conditions prevented the completion of the hole.
GS-21-127, the farthest northeast step-out hole completed to date (approximately 200 m northeast of GS-21-119), targeted the deep DS5 domain. This hole successfully intersected the top of DS5 and ended in mineralization before being shut down due to poor field conditions. Results include 0.75 g/t AuEq over 46.5 m and 0.43 g/t AuEq over 70.0 m, which extended to the end of the hole. This target will be re-drilled in 2022.
GS-21-128 targeted the easterly extension of the CS600 and DS5 domains. The hole intercepted 0.61 g/t AuEq over 43.9 m within CS600. The hole ended in mineralization as field conditions prevented completion of the hole; the final 17.6 m averaged 1.31 g/t AuEq. This intersection is currently interpreted to be the upper part of DS5 and plans are to re-drill this target in 2022.
CALM BEFORE THE STORM
CBS-21-03 returned a near-surface interval that graded 0.85 g/t AuEq over 25.5 m and a second significant interval of mineralization farther down the hole that averaged 0.61 g/t AuEq over 33.15 m, with an enriched mineralized core of 0.94 g/t AuEq over 10.0 m.
CBS-21-03 confirms that gold mineralization is gaining strength westward and to depth.
EUREKA SURFACE SAMPLING
Channel sample line EK-21-CHN-01 extended the Eureka Zone 300 m to the north of previous drilling intercepts with a continuous surface sample line returning 0.72 g/t AuEq over 139.0 m, including 1.01 g/t AuEq over 69.0 m.
Plans for 2022 include drilling the area beneath this channel sample line, as well as testing the current model that Eureka may be the eastern extension to surface of the DS-5 domain of the Goldstorm Deposit.
Tudor Gold’s President and CEO, Ken Konkin, P.Geo., stated: “We are pleased to have completed the 2021 exploration season on a very positive note, having demonstrated that the Goldstorm Deposit still remains open in all directions and at depth. We have significantly expanded the Goldstorm system to the northwest, north, northeast and southeast, in addition to reporting some of our longest and strongest gold-copper mineralized intercepts that surpassed even the results obtained from last years’ extremely successful drill program. Our primary goal is to define the ultimate limits of gold-copper-silver mineralization of the Goldstorm Deposit so we can determine the final resource estimate. We are committed to increasing our efforts for 2022 to achieve this goal.
Exploration in other areas of the Property demonstrated that the Eureka System continues 300 meters to the north from our well-mineralized exploration drill hole EK-21-01 (Press Release September 28th, 2021) that confirmed the near-surface presence of a large gold target. Other notable achievements of 2021 were the successful expansion of the Perfect Storm System, located two kilometres southwest of Goldstorm, and the discovery of the Calm Before the Storm (CBS) system located two kilometres northeast of the Goldstorm Deposit. The Treaty Creek project has now ballooned with the addition of these three new drill targets that will be explored in tandem with definition drilling of the Goldstorm deposit limits in 2022. Our geological team is currently focussing their efforts over the next few weeks to complete the plans for the proposed 2022 diamond drill program. Leading the geological team is our new Vice President of Resource Development, Ms. Natalie Senger (P.Geo.). It’s very rewarding for me to see the professional development and advancement of such a deserving geoscientist, who I have had the pleasure of working with during my career.”
The complete list of the above reported composited drilling results for Goldstorm and CBS, as well as the drill hole data, including hole location, elevation, depth, dip and azimuth, are provided in Table 1 and Table 2, respectively. Rock channel sample results from Eureka trenching are shown in Table 3. Please click on the following link to view (Plan Map and Cross Sections for the drilling and surface samples reported in this news release): TreatyMaps0122
D. Cremonese, P. Eng., President of Teuton Resources, commented as follows: “2021 was another very successful year of exploration at Treaty Creek. As well as achieving one of the longest mineralized drill intersections in the entire Sulphurets region, 0.97 g/t Gold Eq. Over 1,320m in Hole GS-21-113-W2, the Tudor Gold crew also expanded the Perfect Storm and Eureka zones. In addition, they drilled a new gold and silver bearing zone north-east of the Goldstorm called the Calm Before the Storm. Closing off the year was a very significant surface discovery in an area north of the traditional Eureka mineralization which holds much promise as another source of open pit material to complement the bulk-caving mineralization found at depth. Let me take this opportunity to thank Walter Storm, Ken Konkin, Natalie Senger, Sean Pownall and Charlie Mooney of Yellowhead Helicopters for a job well done.”
Table 1: Drilling Results Goldstorm and CBS Zone in Press Release January 11th, 2022
|
Section |
Hole |
From (m) |
To (m) |
Interval (m) |
Au (g/t) |
Ag (g/t) |
Cu (ppm) |
AuEQ (g/t) |
|
113+00 NE |
GS-21-128(1) |
162.10 |
206.00 |
43.90 |
0.56 |
2.31 |
162 |
0.61 |
|
And (DS5) |
404.00 |
421.60 |
17.60 |
1.25 |
4.27 |
55 |
1.31 |
|
|
118+00 NE |
GS-21-125(1) |
675.00 |
702.00 |
27.00 |
1.67 |
2.06 |
45 |
1.70 |
|
And (DS5) |
910.50 |
1168.50 |
258.00 |
0.72 |
7.06 |
150 |
0.82 |
|
|
Including |
949.50 |
1034.90 |
85.40 |
1.69 |
15.62 |
299 |
1.91 |
|
|
And (DS5) |
1221.00 |
1292.40 |
71.40 |
0.67 |
7.25 |
849 |
0.85 |
|
|
Including |
1275.00 |
1292.40 |
17.40 |
1.69 |
7.17 |
555 |
1.84 |
|
|
118+00 NE |
GS-21-127(1) |
489.00 |
535.50 |
46.50 |
0.72 |
2.49 |
77 |
0.75 |
|
And (DS5) |
621.00 |
691.00 |
70.00 |
0.36 |
4.69 |
130 |
0.43 |
|
|
A - 180 |
CBS-21-03 |
8.00 |
33.50 |
25.50 |
0.84 |
0.76 |
22 |
0.85 |
|
And |
150.50 |
183.65 |
33.15 |
0.53 |
5.96 |
86 |
0.61 |
|
|
Including |
156.00 |
166.00 |
10.00 |
0.84 |
7.89 |
52 |
0.94 |
|
|
Eureka Plan |
GS-21-CHN-01 |
0.00 |
139.00 |
139.00 |
0.58 |
7.19 |
485 |
0.72 |
|
Including |
68.50 |
137.50 |
69.00 |
0.86 |
8.54 |
392 |
1.01 |
|
|
||||||||
Table 2: Drill data for holes in Press Release January 11th, 2022
|
Section |
Hole ID |
UTM E NAD 83 |
UTM N NAD 83 |
Elevation (m) |
Azi (ᵒ) |
Dip (ᵒ) |
Depth (m) |
|
113+00 NE |
GS-21-128 |
429037.0 |
6272847.0 |
1233.8 |
295 |
-85 |
421.6 |
|
118+005 NE |
GS-21-125 |
429209.5 |
6273224.9 |
1208.1 |
300 |
-83 |
1292.4 |
|
118+00 NE |
GS-21-127 |
429265.2 |
6273285.7 |
1202.1 |
305 |
-75 |
691.0 |
|
A - 180 |
CBS-21-03 |
430615.0 |
6273884.0 |
975.0 |
160 |
-45 |
312.25 |
Table 3: Surface Sample Results in Press Release January 11th, 2022
|
Sample |
Zone |
UTM E NAD 83 |
UTM N NAD 83 |
Elevation (m) |
Type |
Length |
Au (g/t) |
Ag (g/t) |
Cu (ppm) |
AuEQ (g/t) |
|
X557249 |
Eureka |
429712.97 |
6272502.02 |
1268.72 |
CHANNEL |
1.50 |
0.89 |
21.52 |
1230 |
1.29 |
|
X557247 |
Eureka |
429715.74 |
6272503.17 |
1269.54 |
CHANNEL |
1.50 |
0.30 |
10.04 |
5080 |
1.02 |
|
X557213 |
Eureka |
429766.03 |
6272507.09 |
1277.47 |
CHANNEL |
1.50 |
1.32 |
3.86 |
76 |
1.38 |
|
X557207 |
Eureka |
429774.88 |
6272508.75 |
1279.68 |
CHANNEL |
1.50 |
0.93 |
4.79 |
208 |
1.01 |
|
X557300 |
Eureka |
429777.82 |
6272509.33 |
1280.34 |
CHANNEL |
1.50 |
3.58 |
4.86 |
112 |
3.65 |
|
X557299 |
Eureka |
429779.29 |
6272509.62 |
1280.60 |
CHANNEL |
1.50 |
1.39 |
2.68 |
148 |
1.44 |
|
X557297 |
Eureka |
429782.24 |
6272510.18 |
1281.31 |
CHANNEL |
1.50 |
1.11 |
3.74 |
634 |
1.23 |
|
X557296 |
Eureka |
429783.72 |
6272510.44 |
1281.65 |
CHANNEL |
1.50 |
1.01 |
2.32 |
278 |
1.07 |
|
X557293 |
Eureka |
429788.15 |
6272511.24 |
1283.20 |
CHANNEL |
1.50 |
1.31 |
7.85 |
92 |
1.42 |
|
X557292 |
Eureka |
429789.62 |
6272511.51 |
1283.46 |
CHANNEL |
1.50 |
2.02 |
5.95 |
81 |
2.10 |
|
X557290 |
Eureka |
429792.45 |
6272512.50 |
1283.45 |
CHANNEL |
1.50 |
0.92 |
3.25 |
479 |
1.01 |
|
X557289 |
Eureka |
429793.90 |
6272512.90 |
1283.75 |
CHANNEL |
1.50 |
1.46 |
4.63 |
944 |
1.63 |
|
X557288 |
Eureka |
429795.34 |
6272513.31 |
1283.87 |
CHANNEL |
1.50 |
1.07 |
2.47 |
452 |
1.16 |
|
X557285 |
Eureka |
429799.76 |
6272514.14 |
1284.53 |
CHANNEL |
1.50 |
0.84 |
27.33 |
5851 |
1.85 |
|
X557284 |
Eureka |
429801.25 |
6272514.35 |
1285.10 |
CHANNEL |
1.50 |
2.25 |
8.56 |
775 |
2.44 |
|
X557283 |
Eureka |
429802.74 |
6272514.55 |
1285.73 |
CHANNEL |
1.50 |
1.23 |
12.14 |
945 |
1.49 |
|
X557279 |
Eureka |
429808.69 |
6272515.28 |
1287.91 |
CHANNEL |
1.50 |
0.68 |
97.64 |
2161 |
2.08 |
|
X557267 |
Eureka |
429826.59 |
6272517.12 |
1289.80 |
CHANNEL |
1.50 |
1.36 |
72.53 |
141 |
2.22 |
Qualified Person
The Qualified Person for this news release for the purposes of National Instrument 43-101 is Tudor Gold’s President and CEO, Ken Konkin, P. Geo. He has read and approved the scientific and technical information that forms the basis for the disclosure contained in this news release. Mr. Konkin is also a director of Teuton Resources.
QA/QC
Diamond drill core samples were prepared at MSA Labs’ Preparation Laboratory in Terrace, BC and assayed at MSA Labs’ Geochemical Laboratory in Langley, BC. Analytical accuracy and precision are monitored by the submission of blanks, certified standards and duplicate samples inserted at regular intervals into the sample stream by Tudor Gold personnel. MSA Laboratories quality system complies with the requirements for the International Standards ISO 17025 and ISO 9001. MSA Labs is independent of the Company.
The Treaty Creek Project is a Joint Venture with Tudor Gold owning 60% and acting as operator. Teuton Resources and American Creek each have a 20% interest in the project. Teuton and American Creek are both fully carried until such time as a Production Notice is issued, at which time they are required to contribute their respective 20% share of development costs. Until such time, Tudor is required to fund all exploration and development costs while both Teuton and American Creek have "free rides".
About Teuton
Teuton owns interests in more than thirty properties in the prolific “Golden Triangle” area of northwest British Columbia and was one of the first companies to adopt what has since become known as the “prospect generator” model. Teuton earned $3.9 million net income in 2020 and a further $2.4 million in the first quarter of 2021. Its income is derived from option payments.
Teuton was the original staker of the Treaty Creek property, host to the large Goldstorm deposit, assembling the core land position in 1985. It presently holds a 20% carried interest in Treaty Creek (carried until such time as a production decision is made) and a 0.98% NSR in the Goldstorm deposit area. Interested parties can access information about Teuton at the Company’s website, www.teuton.com.
On Behalf of the Board of Directors of Teuton Resources:
"Dino Cremonese, P.Eng."
Dino Cremonese, P. Eng.,
President and Chief Executive Officer
For further information, please visit the Company's website at www.teuton.com or contact:
Barry Holmes
Director Corporate Development and Communications
Tel. 778-430-5680
Email: barry@teuton.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statements regarding Forward-Looking information
Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company's current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially.
All statements relating to future plans, objectives or expectations of the Company are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's plans or expectations include risks relating to the actual results of current exploration activities, fluctuating gold prices, possibility of equipment breakdowns and delays, exploration cost overruns, availability of capital and financing, general economic, market or business conditions, regulatory changes, timeliness of government or regulatory approvals and other risks detailed herein and from time to time in the filings made by the Company with securities regulators. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities legislation.
1 * In April 2021 Tudor published a NI 43-101 technical report, “Technical Report and Initial Mineral Resource Estimate of the Treaty Creek Gold Property, Skeena Mining Division, British Columbia Canada” dated March 1, 2021 on Tudor Gold’s Sedar profile.
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